"In light of the recent financial markets volatility, the shareholders of Miller Group have elected not to proceed at this time with a public offering of Miller Homes.
Marvin Preston, executive director of the company, said yesterday that the troupe "would proceed at this time to operate without an artistic director".
Mr. McCall, the minutes added, informed the committee that "Mr. Grasso did not think it was wise to proceed at this time".
"We understand and support their decision not to proceed at this time with the donation," David Ross, the National Portrait Gallery's chairman, said in a statement.
"The President has instructed Secretary Weinberger and Secretary Haig not to proceed at this time with discussions intended to implement the Memorandum of Understanding," Mr. Fischer said.
Following Goldin's stand, the gallery said last week it had jointly agreed with the family that it would "not proceed at this time" with a £1m donation from the philanthropic trust fund accumulated through trade in the drug.
"The allegations against family members are vigorously denied, but to avoid being a distraction for the National Portrait Gallery, we have decided not to proceed at this time with the donation," the Sackler Trust said in a statement.
Southland said that Goldman , Sachs &Company and Salomon Brothers Inc., its underwriters, had advised it that, "based upon current market conditions, they do not intend to proceed at this time" with the junk bonds' sale.
In a decision hailed as "a powerful acknowledgment" that some sources of income could not be justified, a spokesperson for the gallery said it had "jointly agreed" that it would "not proceed at this time" with a £1m donation from the family, whose US pharmaceutical company Purdue Pharma LP makes the highly-addictive opioid prescription painkiller OxyContin.
